T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $115.00

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by Keefe, Bruyette & Woods from $112.00 to $115.00 in a research note published on Monday morning, MarketBeat reports. The brokerage currently has a hold rating on the asset manager’s stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research report on Monday, August 4th. The Goldman Sachs Group upped their target price on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a research report on Friday, October 3rd. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Barclays restated an “underweight” rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, Morgan Stanley upped their target price on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the company a “positive” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average target price of $106.92.

T. Rowe Price Group Trading Down 0.4%

T. Rowe Price Group stock opened at $105.71 on Monday. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $125.81. The company has a market cap of $23.23 billion, a PE ratio of 11.81, a PEG ratio of 5.85 and a beta of 1.50. The company’s 50-day moving average is $105.82 and its two-hundred day moving average is $98.68.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the company posted $2.26 EPS. The company’s revenue was down .6% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

Several hedge funds have recently bought and sold shares of TROW. TD Waterhouse Canada Inc. raised its holdings in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the period. Zions Bancorporation National Association UT acquired a new stake in T. Rowe Price Group during the 1st quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC raised its holdings in T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares during the period. Hexagon Capital Partners LLC raised its holdings in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after buying an additional 113 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $35,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.